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20130115
20130115
Search Results 0 to 13 of about 14 (some duplicates have been removed)
, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the president gave a harsh lecture to republicans about the need to raise the deb
to negotiate. and they fired back that the debate over the debt ceiling was the perfect time to consider legislation to cut spending. at the same time, only a handful of republicans have actually said they'd let the united states default on its bills. >> the president claims this, but republicans have always raised the debt ceiling. we've never seen the debt limit fail to be raised. all they have said is we want to apply the same criteria that the president himself applied when he was a senator and say we don't want to give the president a blank check. we would like to fix the substantive problem which is the level and the growth in the debt. >> reporter: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it
separate from the debt ceiling. >> raising the debt ceiling does not authorize us to spend more. all it does is say that america will pay its bills, and we are not a deadbeat nation. >> clearly house speaker john boehner thinks differently. he responded by saying, quote, the american people do not support raising the debt ceiling without reducing government spending at the same time. >>> these pens are designed to be used only by one person, but an investigation discovered that many of them were used on multiple people. >>> are you in hawaii or going there anytime soon? surfers, beware. check out this video. it's a real-life jauss. two sharks were swimming dangerously close to the show. can you believe it? look at that. you could wade in and be bitten, eaten. last year there were a total of 11 shark attacks in hawaii. >> that's what i call dangerously close. >> oh, my goodness. >> so some people in the southeast waking up to the dual danger of flooding and ice. alexandra steele in the weather center. good morning. >> good morning, guys. each snow potentially for you around new york c
set the record straight on the debt ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm willing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows
proposing a delay to president obama's health care law in exchange for raising the debt ceiling. rich edson has the latest. rich: they have been figuring out what they want to propose. perhaps floating a delight in the implementation of the president's health care law. the bulk of the spending starts in 2014. that is just one of them any options they are hoping to discuss. major tax and entitlement reform. that will be discussed throughout the rest of the week. >> we have to come to a point where we stand and fight. i hope this is the time. there is no such thing in this definition. we'll pay social security, will you pay medicare or would you use it as a tool to try to get the house republicans to cave? rich: president obama said he will not negotiate. he will talk spending cuts and, perhaps, revenue. back to you. lori: thank you so much. new warnings on the debt ceiling. timothy geithner telling congressional leaders that the u.s. will exhaust its limit mid-february. bernanke urging congress to extend borrowing authority well before the deadline. the u.s. could lose its aaa rating, so whe
the debt ceiling or put the u.s. economy st. at risk. it's tuesday, january 15th, 2013 and "squawk box" begins right now. >>> good morning, everybody. welcome to "squawk box" here on cnbc. i'm becky quick along with joe kernen and andrew ross sorkin. we've been watching the u.s. equity futures and at least at this point you can see they do look like they're indicated to open a little lower. right now, dow futures down by about 16 points below fair value. the s&p futures are about 2 points below fair value. we have some different nebs going on at the top of the screen than we do on that fair value board. we'll check on that, as well. >>> dell is said to be in talks with private companies in reports of a possible guyout. the journal says jpmorgan is involved in the negotiations. dell shares have been soaring near an eight-month high on first word of this news yesterday. you can see up about close to 2% to the premarket sales. 64 is the last dip. in other technology news, facebook is holing a press conference today. no word on what the big announcement will be. you've heard a lot of analy
under control, but does he think the debt ceiling is the leverage that republicans should use to get that done? he'll join us exclusively, and i know you're going to ask him about that. >> absolutely. >> let's check out the action on the street right here. here's how things are shaping up with less than an hour to go. the dow jones industrial average hitting basically at the highs of the day. had been down around 60 points earlier. talking about a gain of 20 points on the blue chip average. fractional move at 13,527. nasdaq chart pattern looks similar. take a look though it's negative. down about nine points on the nasdaq, a quarter points lower and the s&p 500 looks like this. similar chart pattern as the dow up a fraction on the standard & poor's but still that's the high of the afternoon. let's get more on the markets in today's "closing bell" exchange by hank smith and steve from comcast funds and our own rick santelli. >> hello. >> good to see you guys. >> thank you so much for joining us. >> hank smith, we haven't heard from you in a while. let me kick this off with you. how ar
more people care about that issue than the debt ceiling. >> bill: they get too full of themselves. the problem with the front row particularly the press corps is they represent different networks. they all want to talk about let's say, for example guns. they all want to be on camera asking the question about guns and it doesn't matter if somebody else has already asked the question five different times in five different ways, they're still going to ask it so they can get on camera. that's what's wrong with the press briefings. >> thank you very much for your tweet. >> if you go to the newseum web site and you look at what the country is talking about it is a rich quilt of different issues, different ideas that people around this country are discussing. and the washington press corps questions of one or two topics doesn't even big to cover -- begin to cover what reporters around this country are reporting on, talking about. that disconnect is really jarring, i think. >> bill: it is jarring. i remember as a reporter in los angeles and a comment tater in los angeles, covering preside
that is a laggard. hewlett-packard, american express, a few of the names coming under the pressure. the debt ceiling remains in focus. it is earning season. let's take a look at facebook. it is up about three quarters of 1%. it certainly has gained over the last half hour. we are getting closer and closer to the launch time. come and see what we are building. there is speculation that remains. the anticipation remains. dagen: trying to strategize on how to rein in government spending. connell: rich edson with all the details. rich: a very busy legislative day. they are dealing with this handy appropriation bill. republicans are discussing a number of different options. there is a major house republicans of that. their annual retreat takes place on wednesday. >> when does this budget balance? here is when the budget gets to balance if we adhere to these cuts. rich: republicans trying to figure out their opening position on the debt ceiling. democrats and the white house have already come out with theirs. president obama saying that he is not negotiating it. he says he is willing to talk about deficit
the debt ceiling. fitch said the pressure on the aaa is, if anything, increasing. >>> we are four hours away from facebook's secret announcement in menlo park. so far, the guesses range from a facebook search engine to a facebook phone. would either product help lift the stock back with a high water mark. >>> the debate kicks off whether dell can, a, raise the money to go private, and b, reinvent itself without going through cash flow. the journal said the talks have been serious for weeks. >>> lululemon doing a downward dog this morning. raises guidance but not enough to impress investors. >>> the battle over the debt ceiling has warranted a warning from fitch. they said it will prompt a formal review of u.s. credit ratings. fitch does add it expects congress will ultimately approve a ceiling increase. the head of global sovereign ratings for fitch, david riley, will join us in the next hour. bernanke weighing in on the debt ceiling in michigan late yesterday. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills.
deficit reduction plan. understand that fitch is not just looking for an 11th hour debt ceiling deal that sets the table for another mini crisis down the road. the federal government hit the debt limit as you know on december 31st. the treasury is using so-called extraordinary measures to pay its bills through mid-february or early march. now, fitch predicts washington will extend the debt ceiling despite the current war of words between president obama and republicans in congress. what happens if we get downgraded? it happened before. remember 2011, when standard & poor's did it. that hit markets and the wider economy hard, but it didn't cause interest rates to increase. this time could be different, however, because the rest of the world is getting its act together. even successful businesses like ford are worried. here's what ceo alan mulally told me today. >> i think the most important thing to your point is that we come together around a solution that allows us to live within our means, to reduce our budget deficits, and also to deal with our trade deficits, and create an enviro
if congress doesn't raise the debt ceiling. president obama says he will not negotiate this issue with congress but republicans want any increase in the debt ceiling to be tied to spending cuts. >>> the issue here is whether or not america pays its bills. we are not a deadbeat nation. and so -- there is a very simple solution to this. >> now, in a statement, john boehner indicated the republican party is prepared for a fight. he said "the consequences of failing to increase the debt ceiling are rule but so are the consequences of allowing our spending problem to go unresolved." >>> state lawmakers in sacramento are closely watching this debate in washington. the concern is that if congress doesn't act on the debt ceiling, the national economy could dip and that would likely have a negative effect on california's budget numbers. push >> the biggest risk to our forecast or the analysts' forecasts could come next month and that's from washington, d.c. >> the 2013 budget release by governor brown showed a surplus for the first time in many years and that was thanks to new tax revenue
Search Results 0 to 13 of about 14 (some duplicates have been removed)